Tony Gruba is a financial advisor with LPL Financial.
With over 15 years of experience as a financial consultant, I offer insight and perspective for clients at all phases of their life to help them make their most important financial goals a reality.With over 15 years of experience as a financial consultant, I offer insight and perspective for clients at all phases of their life to help them make their most important financial goals a reality.
Prior to my career, I attended St. Cloud State University, where I studied business and captained the hockey team. I have two active teens and enjoy supporting their passions. Much of my free time is spent traveling, attending country concerts, and watching hockey.
There’s no one-size-fits-all answer here. You need to decide how important this goal is relative to other financial goals you may have, such as retirement and debt reduction, and then we can help you allocate resources appropriately from there.
You generally receive a tax deduction for contributions to IRAs but have to pay tax on withdrawals in retirement. You don’t receive a tax deduction for contributions to Roth IRAs but you generally can take withdrawals in retirement completely tax free.
Many clients see debt reduction as a primary goal, specifically when it comes to their mortgage. Compounding is a powerful tool in wealth creation, and I’d hesitate to withdraw from an asset historically returning above 9% to pay off a debt charging 3% interest. I’d prefer a client strive for the ability to be debt free and not necessarily actually be debt free.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Wings Financial Credit Union and Wings Financial Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Wings Financial Advisors, and may also be employees of Wings Financial Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Wings Financial Credit Union and Wings Financial Advisors. Securities and insurance offered through LPL or its affiliates are:
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